At First Independent Bank, we are passionate about partnering with farm and agricultural operations across Minnesota. One of the services we provide is financing and lending support to launch, operate, and expand agricultural and farming facilities across the state.
There are numerous ways to use the funds from an agricultural loan, but here are some options to consider:
High-quality, dependable farm equipment lasts longer and can make farming operations more efficient, but it also comes with a high price tag. Whether it’s a tractor, combine, planter, or grain bin storage, your business is only as good as the equipment you use.
Purchasing land and adding more acreage to your farm is one of many ways to grow your operation. Making capital improvements on your farm can help boost your farm’s value, become more efficient, and improve your products.
It’s extremely difficult to plan for and protect yourself from an unexpected crisis. As we all know, farming can be fickle. Crops and livestock can vary from year to year and commodity prices are notoriously volatile. An agricultural loan can cover operational costs and help you get back on your feet.
If you’re getting a new farming operation off the ground, the cost of running your agricultural business can be prohibitive. An agricultural operating loan from First Independent Bank can help cover the interim expenses (like paying your employees, your expenses, and crop input bills) until your farm starts generating positive cash flow.
Farms across Southern and Central Minnesota have come to depend on the agricultural financing solutions from First Independent Bank. Please contact us if you’re interested in an agricultural loan, and we can help you figure out the right option for your farm.
